Several breakthrough reforms with pertinence to the Indian real estate sector saw the light of the day over the last one year. Be it demonetisation – the government’s ‘surgical strike’ against black money, the revolutionary RERA or the unified tax regime of GST; all bore the power of rendering the Indian real estate sector more transparent and professional.

The senior housing sector in India is at a nascent stage with huge opportunities for the real estate developers, service providers, healthcare players and operators. Unlike western countries where the senior living sector has gained maturity, India has huge untapped potential in the sector.

On his two-day visit to Varanasi, Prime Minister Narendra Modi will reportedly be launching nearly 17 infrastructure projects. In a statement issued by the government, the projects launched by the Prime Minister pay equal attention to all sectors including infrastructure, textiles, finance, railways, sanitation and animal husbandry.

While the gross average rental of Mumbai rose by only 0.5 per cent (YoY) in 2Q17, the increase in office rentals was highest in Navi Mumbai – at more than 8 per cent. Excluding Thane and Navi Mumbai, the micro-market of western suburbs’ registered a growth of 1.5 per cent in its average rent, closely followed by both the SBDs – Central (Lower Parel, Elphinstone Road, etc.) and BKC – at over 1 per cent.

BASF India, a subsidiary of BASF SE, has inaugurated its new technical lab for fuel and lubricant solutions at its Innovation Campus Asia Pacific, located in Navi Mumbai. As an integral part of BASF’s global and regional innovation network, the facility will deliver modern lubricant formulations and high performance fluids for automotive and industrial applications.

Dilip Buildcon has recently announced the sale of 24 road assets with a project value of Rs 10,500 crore. The transaction will reportedly be done with Chhatwal Group Trust that runs Shrem in Mumbai. The sale is anticipated to be around Rs 1,600 crore.

Arvind K Garg, Executive Vice-President & Head, Construction & Mining Machinery, Larsen & Toubro, has been elected as the President of Indian Construction Equipment Manufacturers Association (ICEMA) for the term 2017-19.